Key regions: Russia, United States, United Kingdom, Canada, India
The Ready-to-Eat Meals Market in North America is facing minimal growth due to factors such as changing consumer preferences, health concerns, and market saturation. Despite convenience offered by the Convenience Food Market, the growth rate remains stagnant, with limited potential for further expansion.
Customer preferences: As consumers continue to prioritize convenience and time-saving solutions, the demand for ready-to-eat meals has seen a significant rise. This trend is driven by busy lifestyles and the desire for quick and easy meal options. Additionally, with the increasing focus on health and wellness, there has been a growing demand for healthier and more nutritious ready-to-eat options, leading to a shift towards clean and natural ingredients.
Trends in the market: In North America, the Ready-to-Eat Meals Market within the Convenience Food Market is experiencing a surge in demand for healthier and more convenient options. This has led to the rise of meal kit delivery services, which offer pre-portioned ingredients and easy-to-follow recipes. In addition, there is a growing trend of plant-based and vegan ready-to-eat meals, catering to the increasing demand for healthier and sustainable food options. These trends are expected to continue, with potential implications for industry stakeholders including increased competition and the need for innovation to meet consumer demands.
Local special circumstances: In North America, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is heavily influenced by the fast-paced lifestyle and busy schedules of consumers. With a high demand for quick and convenient meal options, the market has seen a rise in pre-packaged, ready-to-eat meals. Additionally, the growing health consciousness among consumers has led to an increase in demand for healthier options, such as organic, gluten-free, and plant-based meals. The market is also impacted by strict food safety regulations and the preference for locally-sourced ingredients, driving the popularity of locally-made ready-to-eat meals.
Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in North America is greatly influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. The region's stable economic conditions and high disposable income are driving the demand for convenience food products, including ready-to-eat meals. Moreover, the growing trend of time-saving and convenient food options is further propelling the market growth in North America. However, the rising health concerns and increasing preference for healthy food options are expected to hinder market growth in the region. Additionally, the growing urbanization and busy lifestyles in North America are contributing to the rising demand for ready-to-eat meals, as they offer quick and easy meal solutions for on-the-go consumers.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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